Methanex Co. (NASDAQ:MEOH) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. lessened its stake in shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,000 shares of the specialty chemicals company’s stock after selling 8,000 shares during the quarter. Intact Investment Management Inc. owned approximately 0.26% of Methanex worth $8,278,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. increased its position in Methanex by 40.2% during the 3rd quarter. Citigroup Inc. now owns 4,042 shares of the specialty chemicals company’s stock worth $183,000 after purchasing an additional 1,158 shares in the last quarter. Ausbil Investment Management Ltd purchased a new stake in Methanex in the 4th quarter valued at about $195,000. Advisor Partners II LLC purchased a new stake in Methanex in the 3rd quarter valued at about $209,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Methanex in the 3rd quarter valued at about $216,000. Finally, Numerai GP LLC purchased a new stake in Methanex in the 3rd quarter valued at about $223,000. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. Barclays lifted their price target on Methanex from $53.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Royal Bank of Canada lifted their price target on Methanex from $45.00 to $50.00 and gave the company a “sector perform” rating in a report on Friday. Piper Sandler restated a “neutral” rating and issued a $50.00 price target on shares of Methanex in a report on Thursday, March 7th. UBS Group boosted their target price on Methanex from $59.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday. Finally, CIBC boosted their target price on Methanex from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $54.38.

Methanex Stock Up 1.0 %

Methanex stock traded up $0.50 during midday trading on Friday, hitting $48.27. 490,873 shares of the company were exchanged, compared to its average volume of 376,818. The company’s fifty day moving average price is $45.55 and its 200-day moving average price is $44.73. The company has a market cap of $3.25 billion, a PE ratio of 20.45 and a beta of 1.50. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 0.81. Methanex Co. has a fifty-two week low of $38.18 and a fifty-two week high of $51.42.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings results on Wednesday, January 31st. The specialty chemicals company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.28 by $0.24. The firm had revenue of $922.00 million for the quarter, compared to analyst estimates of $901.21 million. Methanex had a return on equity of 5.38% and a net margin of 4.63%. On average, research analysts predict that Methanex Co. will post 2.35 EPS for the current fiscal year.

Methanex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Friday, June 14th. Methanex’s payout ratio is 31.36%.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.